Budget 2013-14: Praful Patel seeks sops to boost capital goods sector

In an exclusive to CNBC-TV18, Union minister of heavy industries Praful Patel said he has asked for sops in the Budget to revive the capital goods sector in a letter to the Union finance minister. Patel pointed out that high interest rates, zero duty on imports and FTAs were hurting the domestic industry including the SME sector.

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"The free import of second-hand capital goods are a major concern and there is an urgent need to address fiscal issues affecting the sector," Patel wrote to the finance minister.

The minister also called for sops for the machine-tool, construction, mining machinery, heavy electricals, automotive, textile and plastic processing machinery.